PEPE tumbles 15% in a week as whale cashes out $427,000 profit
The post PEPE tumbles 15% in a week as whale cashes out $427,000 profit appeared on BitcoinEthereumNews.com.
PEPE drops 15% in seven days, trading at $0.0000072. Whale sells 68.76B PEPE for $509,500, realizing $427,000 profit. Analyst forecasts 150% PEPE rally if falling channel breaks. A sharp drop in investor confidence and ongoing volatility have caused the meme coin market to shed billions in value. Now standing at $46 billion, the sector has seen declines across its biggest tokens—Dogecoin, Shiba Inu, and PEPE. Among these, PEPE has drawn particular attention after falling by 15% over the past week to trade at $0.0000072. The frog-themed meme coin is approaching key support levels, triggering renewed interest from analysts and traders alike. Technical signals point to mounting bearish pressure, with investors closely watching price action and whale behavior for clues on what lies ahead. PEPE drops 70% from peak On the daily chart, PEPE is trapped in a prevailing downtrend, having lost more than 70% from its highs. The token recently rebounded from $0.0000053 but remains constrained by a long-standing resistance trendline. A short-term expanding channel has formed, suggesting heightened volatility but no clear direction. Despite a brief intraday recovery of nearly 3%, indicators such as MACD and RSI paint a bearish picture. The MACD and signal lines are approaching a negative crossover, while the RSI has dipped below the midline, revealing weak momentum. The technical setup suggests that PEPE may struggle to hold current levels unless a breakout above the resistance is achieved. Whale sells $509k in PEPE Adding to the pressure, a significant whale holding PEPE since 2023 has liquidated their position. According to a tweet by OnchainLens, the wallet sold 68.76 billion PEPE tokens for 271.33 ETH, valued at $509,500. The tokens were initially bought for $82,000 on KuCoin, netting the investor a realised profit of $427,000. While the return was substantial, the whale could have earned as…
Filed under: News - @ April 3, 2025 3:27 pm